State of Alaska Department of Revenue Increases Holdings in Rxo Inc $RXO

Key Points

• The State of Alaska Department of Revenue increased its stake in RXO Inc by 17.2% during the second quarter, owning about 0.15% of the company, worth approximately $3.9 million.
• Several institutional investors, including Geneos Wealth Management and Larson Financial Group, have made significant changes to their positions in RXO, indicating increased interest from the investment community.
• As of recent analyses, RXO has a consensus rating of "Hold" with a price target averaging $16.92, despite mixed ratings from various brokerages.

State of Alaska Department of Revenue increased its stake in shares of Rxo Inc (NYSE:RXO - Free Report) by 17.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 249,698 shares of the company's stock after buying an additional 36,561 shares during the quarter. State of Alaska Department of Revenue owned about 0.15% of RXO worth $3,923,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in RXO during the first quarter worth approximately $30,000. Larson Financial Group LLC lifted its position in RXO by 1,990.2% during the first quarter. Larson Financial Group LLC now owns 1,714 shares of the company's stock worth $33,000 after buying an additional 1,632 shares in the last quarter. CWM LLC lifted its position in RXO by 234.4% during the first quarter. CWM LLC now owns 1,876 shares of the company's stock worth $36,000 after buying an additional 1,315 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in RXO by 52.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,745 shares of the company's stock worth $52,000 after buying an additional 945 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in RXO by 165.1% during the second quarter. GAMMA Investing LLC now owns 5,135 shares of the company's stock worth $81,000 after buying an additional 3,198 shares in the last quarter. Hedge funds and other institutional investors own 92.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RXO. UBS Group reiterated a "neutral" rating and set a $15.00 price objective (up previously from $14.00) on shares of RXO in a research report on Friday, August 8th. JPMorgan Chase & Co. lowered their price target on RXO from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Tuesday, July 8th. Susquehanna set a $12.00 price objective on RXO and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Barclays cut their price objective on RXO from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Finally, Morgan Stanley cut their price objective on RXO from $23.00 to $21.00 and set an "equal weight" rating for the company in a research report on Monday, July 7th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, RXO presently has a consensus rating of "Hold" and a consensus price target of $16.92.

RXO Trading Up 1.0%

Shares of NYSE RXO opened at $15.10 on Tuesday. Rxo Inc has a twelve month low of $12.19 and a twelve month high of $31.98. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $15.98 and a 200-day simple moving average of $15.87. The stock has a market capitalization of $2.48 billion, a PE ratio of -6.99, a PEG ratio of 7.13 and a beta of 1.69.

RXO (NYSE:RXO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. RXO had a positive return on equity of 1.18% and a negative net margin of 5.45%.The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the previous year, the firm posted $0.03 earnings per share. The company's revenue was up 52.6% on a year-over-year basis. On average, equities analysts forecast that Rxo Inc will post 0.31 earnings per share for the current year.

RXO Profile

RXO, Inc provides full truckload freight transportation brokering services. It also offers brokered services for managed transportation, last mile, and freight forwarding. The company was incorporated in 2022 and is based in Charlotte, North Carolina.

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